Phase 2 of CNOOC’s operated Lufeng oilfield development project in the eastern South China Sea has begun production, the company said on Jan. 3.
The project, located in an average water depth of 136 m, consists of Lufeng 8-1, Lufeng 9-2 and Lufeng 14-8.
CNOOC said one new drilling platform was built for the project and that 14 development wells are planned, including 13 production wells and one water injection well.
CNOOC expects the project to achieve peak production of 22,600 bbl/d in 2025.
CNOOC Ltd. operates the project with 100% interest.
In September, the Lufeng 12-3 field started production. It is operated by SK Earthon with 39.2% interest on behalf of CNOOC, with 60.8% interest.
Recommended Reading
Chevron Hunts Upside for Oil Recovery, D&C Savings with Permian Pilots
2024-02-06 - New techniques and technologies being piloted by Chevron in the Permian Basin are improving drilling and completed cycle times. Executives at the California-based major hope to eventually improve overall resource recovery from its shale portfolio.
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
2024-04-25 - Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.
Proven Volumes at Aramco’s Jafurah Field Jump on New Booking Approach
2024-02-27 - Aramco’s addition of 15 Tcf of gas and 2 Bbbl of condensate brings Jafurah’s proven reserves up to 229 Tcf of gas and 75 Bbbl of condensate.
Repsol to Drop Marcellus Rig in June
2024-04-26 - Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.